4D Molecular Therapeutics (NASDAQ:FDMT) Earns Buy Rating from HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $36.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 307.70% from the company’s previous close.

Several other research firms also recently commented on FDMT. Chardan Capital boosted their price objective on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Finally, Royal Bank of Canada lowered their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $8.83 on Thursday. The business has a 50-day simple moving average of $10.30 and a 200 day simple moving average of $17.13. 4D Molecular Therapeutics has a one year low of $7.32 and a one year high of $36.25. The firm has a market capitalization of $458.90 million, a price-to-earnings ratio of -3.10 and a beta of 2.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDMT. Allspring Global Investments Holdings LLC lifted its position in shares of 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares in the last quarter. Swiss National Bank boosted its position in 4D Molecular Therapeutics by 29.9% in the first quarter. Swiss National Bank now owns 53,900 shares of the company’s stock worth $1,717,000 after purchasing an additional 12,400 shares during the last quarter. Sei Investments Co. bought a new position in 4D Molecular Therapeutics in the 1st quarter valued at $504,000. ProShare Advisors LLC bought a new position in 4D Molecular Therapeutics in the 1st quarter valued at $344,000. Finally, Entropy Technologies LP purchased a new stake in shares of 4D Molecular Therapeutics during the 1st quarter valued at $239,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.